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Ruble Recovers on Oil as Morgan Stanley Warns of Risks to Rally

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The ruble ended a two-day drop and Russian stocks and bonds advanced as oil’s return above $60 a barrel improved sentiment, while a Morgan Stanley downgrade cast doubt on the rally.

The currency appreciated as much as 1 percent to 62 against dollar as Brent crude rebounded from its biggest slide in a month. Bonds advanced, pulling yields from a four-week high, and the dollar-denominated RTS Index extended the world’s largest gain this year. The Finance Ministry plans to sell 15 billion rubles ($241 million) of floating-rate notes Wednesday.